You just won the lottery. Congratulations! The jackpot is $35,000,000, paid in six equal annual payments. The first payment on t
1 answer:
You might be interested in
This question is incomplete.
The complete question, answer & explanation for this question is given in the attachment below.
Answer:
$16.4
Explanation:
Given: Preferred stock= 1400 shares of $100
Total share outstanding= 29000
Total shareholder´s equity= $615600.
Now, calculating the book value per shares.
Formula; Book value per shares=
Preferred stock=
∴ Preferred stock= $140000.
Book value per shares=
∴ Book value per share= $16.4
Answer:
Explanation:
In the classified balance sheet, we summarize the asset and liabilities into various types
Like assets are divided into fixed assets, current assets, and intangible assets.
Likewise, liabilities are also divided into current liabilities, long term liabilities
In every balance sheet, the accounting equation is used that means
Total assets = Total liabilities + Shareholder equity
Before preparing we have to compute the net income and the ending retained earning balance which is shown below:
Net income = Trucking fees earned - truck Depreciation expense - Salaries expense - Office supplies expense - trucks Repairs expense
= $124,000 - $26,574 - $52,528 - $20,000 - $9,632
= $15,266
And, the ending retained earning balance = Beginning balance of retained earnings + net income - dividend paid
= $128,194 + $15,266 - $22,000
= $121,460
The preparation of the classified balance sheet for Wilson Trucking company on December 31, 2013 is presented in the spreadsheet. Kindly find the attachment below:
